{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-2-404","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-2-404","heading":"When assignee not subject to defense","body":"(1) With respect to a consumer credit sale or consumer lease,\n\nan agreement by the buyer or lessee not to assert against an\n\nassignee a claim or defense arising out of the sale or lease is\n\nenforceable only by an assignee not related to the seller or lessor\n\nwho acquires the buyer's or lessee's contract in good faith and for\n\nvalue, who gives the buyer or lessee notice of the assignment as\n\nprovided in this section and who, within thirty (30) days after the\n\nmailing of the notice of assignment, receives no written notice of\n\nthe facts giving rise to the buyer's or lessee's claim or defense.\n\nThis agreement is enforceable only with respect to claims or\n\ndefenses which have arisen before the end of the thirty-day period\n\nafter notice was mailed. The notice of assignment shall be in\n\nwriting and addressed to the buyer or lessee at his address as\n\nstated in the contract, identify the contract, describe the goods or\n\nservices, state the names of the seller or lessor and buyer or\n\nlessee, the name and address of the assignee, the amount payable by\n\nthe buyer or lessee and the number, amounts and due dates of the\n\ninstallments, and contain a conspicuous notice to the buyer or\n\nlessee that he has thirty (30) days within which to notify the\n\nassignee in writing of any complaints, claims or defenses he may\n\nhave against the seller or lessor and that if written notification\n\nof the complaints, claims or defenses is not received by the\n\nassignee within the thirty-day period, the assignee will have the\n\nright to enforce the contract free of any claims or defenses the\n\nbuyer or lessee may have against the seller or lessor which have\n\narisen before the end of the thirty-day period after notice was\n\nmailed.\n\n(2) An assignee does not acquire a buyer's or lessee's contract\n\nin good faith within the meaning of subsection (1) if the assignee\n\nhas knowledge or, from his course of dealing with the seller or\n\nlessor or his records, notice of substantial complaints by other\n\nbuyers or lessees of the seller's or lessor's failure or refusal to\n\nperform his contracts with them and of the seller's or lessor's\n\nfailure to remedy his defaults within a reasonable time after the\n\nassignee notifies him of the complaints.\n\n(3) To the extent that under this section an assignee is\n\nsubject to claims or defenses of the buyer or lessee against the\n\nseller or lessor, the assignee's liability under this section may\n\nnot exceed the amount owing to the assignee at the time the claim or\n\ndefense is asserted against the assignee and rights of the buyer or\n\nlessee under this section can only be asserted as a matter of\n\ndefense to or setoff against a claim by the assignee.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"97560fada83d721a79fc8e8b0ee70b1fdae6180b4d7a4399605a9d2fbca85ccb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-2-403","next":"us-ok/okla.-stat.-tit.-14a-14a-2-405"},"notice":"GroundRules: Original legal text. Not legal advice."}